TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 140A Amended: New Tax Liability Calculations Include TDS, Reliefs, Deductions, and Tax Credits</h1> Section 140A of the Income-tax Act is amended effective April 1, 2007, to account for various tax components in calculating tax liability. Sub-section (1) now includes considerations for tax deducted or collected at source, relief or deductions under sections 90, 91, and 90A for taxes paid abroad, and tax credits under section 115JAA. Sub-section (1A) revises the calculation of interest under section 234A by reducing the declared tax by similar components. Sub-section (1B) redefines 'assessed tax' as the declared tax reduced by deductions, reliefs, and credits as specified in the amended provisions.
TaxTMI 
TaxTMI 
